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FCA issues warning on logbook loans

VULNERABLE people who use their car as security to take out a loan are finding themselves squeezed even harder financially and even threatened, the City regulator has found. The Financial Conduct Authority warned it will put firms offering logbook loans out of action if they do not "dramatically" improve their standards, after finding evidence of poor behaviour including little or no affordability checks being carried out and some applicants being encouraged to manipulate details of their income. It said lenders are failing to properly spell out exactly how expensive such debts will be, with the true cost often masked by an emphasis on "low" weekly repayments and key terms and conditions buried in small print.

Mitsubishi Outlander (2012) first official pictures

Mitsubishi today showed off its new third-generation Outlander. It follows after a string of concept cars showing what direction Mitsu is pursuing for its 2012 Outlander. The company says it's 11 years since it coined the phrase 'crossover' - that's some claim - and it'll show off the new Outlander at the 2012 Geneva motor show.

2011 LA Design Challenge entries revealed

As the Los Angeles Auto Show rapidly approaches, the 8th international Design Challenge has been announced. Inviting studios from across the globe to compete, previous years have seen concepts created for environmentally conscious briefs that called for sub-1000lb vehicles through to ‘Motorsport 2025' concepts that reinterpreted motor racing in the semi-distant future. This year sees six design studios turning to the silver screen and creating the next ‘A-list automobile', those being: Honda Research and Development Americas, Inc; Hyundai Design North America; Mercedes-Benz Research & Development North America inc.